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Property profile & analytics
OFF-MARKET
Warehouses
2135 Queen St Bellingham, WA 98229-4754
Entity Owned
9-yr Hold
Free & Clear
Property ID
US90-1769927
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Total area
2,850 SF
Lot
0.12 ac (5,079 SF)
Zoning code
LI
APN
380329 229489 0000
UPID
US90-1769927
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
D & S Rentals LLC · 9 yrs held
D & S Rentals LLC
since 2017
5 recorded transactions
Zoning & alternative use
LI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bellingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellingham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$3,280
Tax year 2021
Assessed value
$386,607
Assessed 2022
Previous assessed
$386,607
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$194,462
Assessed improvement
$192,145
Land market value
$194,462
Improvement market value
$192,145
Total market value
$386,607
Applied tax rate
100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
NONE
Cooling
YES
Total area
2,850 SF
Lot
0.12 ac (5,079 SF)
Zoning code
LI
APN
380329 229489 0000
UPID
US90-1769927
Jurisdiction
WHATCOM
Zoning & alternative use
LI · Bellingham, WA
Zoning LI · permitted uses
LI · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellingham. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1999
Heating
NONE
Cooling
Yes
Lot
0.12 ac
Current owner
From public records · entity-resolved
D & S Rentals LLC
Entity
Free & Clear · 9 yrs held
Mailing address
1249 BIRCH FLS DR, BELLINGHAM, WA 98229-2427
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2017
—
D & S Rentals LLC
Seas Holdings LLC
Quit Claim Deed
related
—
Jan 30, 2017
$350,000
Seas Holdings LLC
Walters Terry E Trust
Warranty Deed
related
—
Jul 31, 2013
$120,479
Walters,terry E Trust
Lowe,virginia A
Grant Deed
—
May 23, 2012
—
Virginia A Lowe
Lowe Jerry D
Quit Claim Deed
related
—
Mar 6, 2012
$42,373
Jerry D Lowe
Walters Terry E Trust
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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